Calling All Student Entrepreneurs: Tell Us About Your Startup

Courage and the capacity to take risk are fundamental to entrepreneurship-Ray Stata to MIT 2010 Graduates

Jun 9, 2012

Often commencement speeches carry a lot more wisdom, insight, and intensity to take action. Exceptional graduation speeches, at large both entertaining and insightful. This is time of Graduation speeches. From Salman Khan of Khan Academy to  Jacqueline Novogratz Founder Acumen Fund are talking to this hungry eyed-change makers, future business magnet and doers. You can find the recent addresses any where, but here we bought you some key points from Ray Stata's, a cofounder of Analog Devices, Inc. 2010 MIT Commencement address.

1. On Choice: Choice matter. 

Your satisfaction and happiness in life depend on the choices you make and on the principles and values which guide them. So far your choices have served you extremely well. 

2. On Learning and starting: Learn than start. However, I think you can also learn by doing.

In my case, I also had a strong desire to be in control of my destiny. So to satisfy this need I aspired to someday start my own company. With this end in mind, shortly after graduation I went to work for Hewlett Packard. Hewlett Packard was for me like a mini MBA where I learned the basics of business. But more importantly I learned from Hewlett Packard that commitment to the welfare of employees and to the development of their full potential are the cornerstones on which successful businesses are built.

3. On Innovative work environment: Free people, they will take care of rest.

Another important way to unlock innovation is to free people to do their best work. In building the organization I found that a lot of talented people were just like me. They wanted the freedom to decide what to do and how to do it. So I shaped a culture which gave employees broad latitude to make decisions. We didn’t have a lot of rules and controls. We depended more on developing people’s judgment.

4. On entrepreneurship: Step outside of your comfort zone.

Entrepreneurs have to be optimistic and relentless in believing they will discover or create the missing pieces even when they are not sure how. Courage and the capacity to take risk are fundamental to entrepreneurship. If you are not stepping outside your comfort zone to take calculated risks, chances are you will not be exploiting your full potential. You can’t play it safe and win.

5. On Making mistakes: Make mistakes and learn.

Don’t be afraid to fail or make mistakes — odds are you will many times. Failure is not always bad. In fact people don’t learn by doing things right. They learn by making mistakes and then reflecting on what went wrong.

6. On not settling down: Stop doing anything you don't love. There are ways to do what you love to do.

The most important advice I can give you is this: if ever you find that you are not passionate and excited about what you are doing, then start searching for an opportunity where you will be. Nothing is more important and gratifying than getting up in the morning with an eagerness to get to work and accomplish something important. Set high standards for what you expect from your work, be courageous in stepping into the unknown and think big about what you can accomplish.

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